Piper Sandler Has Lowered Expectations for Lululemon Athletica (NASDAQ:LULU) Stock Price

Lululemon Athletica (NASDAQ:LULU) had its target price cut by Piper Sandler from $340.00 to $315.00 in a research report released on Friday morning, Marketbeat.com reports. They currently have a neutral rating on the apparel retailer’s stock.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company lifted their price objective on Lululemon Athletica from $350.00 to $375.00 and gave the company an “equal weight” rating in a report on Wednesday, January 15th. Telsey Advisory Group reduced their price target on shares of Lululemon Athletica from $445.00 to $385.00 and set an “outperform” rating for the company in a report on Friday. Guggenheim increased their price objective on shares of Lululemon Athletica from $350.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Barclays boosted their price objective on shares of Lululemon Athletica from $378.00 to $411.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Finally, TD Cowen lifted their price target on Lululemon Athletica from $382.00 to $383.00 in a research note on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $380.72.

Lululemon Athletica Price Performance

Shares of NASDAQ:LULU opened at $293.06 on Friday. The stock has a market cap of $35.69 billion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 2.22 and a beta of 1.21. The company has a 50 day moving average of $364.63 and a 200-day moving average of $340.22. Lululemon Athletica has a one year low of $226.01 and a one year high of $423.32.

Lululemon Athletica (NASDAQ:LULU) last released its earnings results on Thursday, March 27th. The apparel retailer reported $6.14 earnings per share for the quarter, beating the consensus estimate of $5.85 by $0.29. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.59 billion. Lululemon Athletica had a return on equity of 42.16% and a net margin of 17.05%. The company’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.29 earnings per share. Equities research analysts anticipate that Lululemon Athletica will post 14.36 earnings per share for the current year.

Institutional Investors Weigh In On Lululemon Athletica

Several hedge funds have recently bought and sold shares of LULU. TCTC Holdings LLC bought a new stake in Lululemon Athletica in the fourth quarter valued at approximately $26,000. Anderson Financial Strategies LLC acquired a new position in shares of Lululemon Athletica during the 4th quarter worth approximately $30,000. Kestra Investment Management LLC bought a new stake in Lululemon Athletica in the 4th quarter valued at $32,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Lululemon Athletica during the 4th quarter valued at $32,000. Finally, Asset Planning Inc bought a new position in Lululemon Athletica during the fourth quarter worth $33,000. 85.20% of the stock is currently owned by institutional investors and hedge funds.

About Lululemon Athletica

Lululemon Athletica Inc, together with its subsidiaries, designs, distributes, and retails athletic apparel, footwear, and accessories under the lululemon brand for women and men. It offers pants, shorts, tops, and jackets for healthy lifestyle, such as yoga, running, training, and other activities. It also provides fitness-inspired accessories.